PGIM Fixed Income has appointed Tom Porcelli as Chief US Economist, effective July 6, 2023. With $793 billion in assets under management, PGIM Fixed Income is one of the largest global fixed income managers.
Previously, Porcelli served as Chief US Economist for RBC Capital Markets, a position he held for over 14 years. In that capacity, he managed a team of economists responsible for US economic forecasting, as well as publishing research and being actively involved in client relationships across all revenue generation platforms within RBC.
Porcelli began his career at the Federal Reserve Bank of New York working at the Open Market Desk, where he was closely involved in the implementation of monetary policy. He subsequently held senior positions as an economist at JP Morgan (Bank One) and Merrill Lynch.
Porcelli joins a highly experienced working group led by Chief Global Economist Daleep Singh, who joined the firm in 2022 from the White House, where he served as President Biden’s chief international economic adviser.
Reporting to Singh, Porcelli will be responsible for guiding the firm’s US economic outlook, contributing to the internal investment process, and providing timely information to clients and key stakeholders on macroeconomic developments.